Red River

04/27/2010

Resolute Energy (REN) and GeoResources (GEOI) entered into a joint venture agreement to develop 61,000 gross, or 42,000 net acres in the Bakken Shale. Each company will have a 45% ownership, with a private company holding a 10% interest.

The acreage is located in Williams County, North Dakota and the joint venture plans on drilling as many as 3 horizontal wells in 2010 to the Middle Bakken Shale formation. The companies are also targeting the Three Forks, Madison and the Red River formations.